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Longcheer Holdings Limited announced that for the three months ended 31 December 2010 (“2Q FY11”), revenue declined 3% to RMB 1.0 billion due mainly to decline in average selling prices. Total shipment volume increased 40% from 5.76 million units in 2Q FY10 to 8.04 million units in 2Q FY11. Gross profit for 2Q FY11 decreased by RMB 56.2 million or 53% from RMB 105.4 million to RMB 49.2 million. Gross profit margin for 2Q FY11 declined significantly from 10.2% in 2Q FY10 to 4.9%. Net profit attributable to shareholders amounted to RMB 15.6 million in 2Q FY11.
| Longcheer posts 60% fall in 2Q net profit to $3m |
| WRITTEN BY THE EDGE |
| THURSDAY, 27 JANUARY 2011 19:58 |
Longcheer Holdings, the leading designer of mobile phones from China, says net profit attributable to shareholders fell 60% to RMB15.6 million ($3.03 million) for the three months ended Dec 31, 2010 (2QFY11).
Revenue declined 3% to RMB1 billion due mainly to decline in average selling prices although total shipment volume increased 40% from 5.76 million units in 2QFY10 to 8.04 million units in 2QFY11. As at Dec 31, 2010, the NAV per share was RMB2.11 per share.
Looking ahead, Executive Chairman Du Junhong says the group will shift its product portfolio towards high-value products like 3G phones and smartphones, although this takes time.
“The management team will strive to overcome the current challenges and reverse the trend of depressed margins,” he adds.
|
/theedge/
not too bad la.... I thought going into the red.... still earn RMB 0.15...
I guess is the time to buy liao...... buy on news.....
I think hor....it will eventually be killed by iPhone leh......hmmmmmm
This is like Tenderloin Steak cooked until over done liao.....
But what is the 2Q 2011 result today?? shld be out or after market closed
Drop so much from 82 cents to current price of 45 cents. A 45% down . This is worse than Sound Global. It doesn't seem good at this moment.
'quote'
Longcheer
supplier
sequentially, coming in at the lower end of
management’s guidance of between 15-20% decline.
’s largest chipMediatek’s 4Q ’10 sales declined 19.3%
And the company warned that 1Q 2011 will likely
see weaker than expected performance due to low
order visibility.
any news or result on this? Good or Bad.
WOW.....what happened ? the last time I see it...was a 80cts stock........
the2q report is to be out today. should have 1.5c dividends
Tks for sharing
DBS Vickers has downgraded this stock to sell with target price of $0.49
Reason: Weak demand and severe margin compression in India.
Ya man! Can someone if got news pls enlighten us.I couldnt find any updates so far
what happen to longcheer .early in the morning gap down .siao liao lor ,
longcheer is up to test its minor resistence level next.
if it breaks that level of resistence, it will give people something to cheer about.
technical chartshttp://sgsharemarket.com/home/2010/11/longcheer-testing-a-minor-resistance/
http://www.andy-yew.com/2010/09/noble-grp-again-straits-asia-longcheer.htmlCan consider to enter this stock tml..
Entry 0.82, Exit(stoploss) 0.77. target 0.92 my 2c view. =)
mOre expensive than Z-Obee ????
Thanks to risktaker for the advice, chart sure looks good, waiting for the next breakout more to the upside. The last round so bullish, should continue the bullish trend. Will take note.
